Debt, Debt and More Debt for the United States

As many people are painfully aware, the United States is increasing its total national debt at an alarming rate.

Over the past decade, the total debt load of the United States has nearly doubled, and there is no relief in sight.

As a matter of fact, the Obama Administration and the CBO (Congressional Budget Office) have both recently released reports predicting that the United States will have nearly $20 TRILLION dollars of total debt by 2019.

The United States first pushed past the one trillion dollar national debt mark shortly after the end of the 1981 fiscal year.

So, between late 1981 and 2020 (approximately), the United States will have added 19 trillion dollars to its national debt load.

For those counting at home, this works out to be nearly half a trillion dollars of added debt every year.

The time between 1981 and 2020 also includes the greatest period of prosperity that the United States has ever witnessed, which makes the numbers even more striking.

Now, these numbers aren't adjusted for inflation - however, there is no denying that the United States is adding to its debt load at an astonishing pace.

Let's look at each trillion dollars of US debt and the time that this mark was reached (or will be reached) to illustrate the point: